Rental Contract Terms

Rental Contract Terms and Conditions (“Terms”)

Last updated: June 23, 2018

Rental Period; Monthly Payments. Instruments are rented for a minimum of two months, payable in advance beginning on the date the Rental Contract/Agreement (“Contract”) is signed by the Customer (hereinafter referred to as “You”). The monthly rental payments (the “Monthly Payments”) are due on the same day of each following month and shall be automatically drafted to the credit card on file in advance of the next month’s rental period. This (“Contract”) shall continue on a month-to-month basis thereafter until the Instrument is returned in appropriate condition pursuant to Section 7 below.

No Rental Refunds. You understand and agree that the Monthly Payments are not refundable and shall not be prorated in the event the Contract is terminated in the middle of a monthly rental period.

Title. You acknowledge and agree that: (a) You have no claim or title to the rented Instrument (the “Instrument”) and (b) full title and ownership of the Instrument shall remain at all times with the owner, Ronald Sachs Violins, LLC (“RSV”). You agree that You shall not sell, convey, mortgage, lease, encumber, transfer, or otherwise dispose of any of the Instrument without the advance written consent of RSV.

Risk of Loss. You hereby assume and shall bear the entire risk of loss, theft of, damage to, or destruction of the Instrument; and in the event of loss, theft of, damage to, or destruction of the Instrument, You agree to immediately pay the full list price plus sales tax (less any applicable rental payments previously made or insurance reimbursement payments received by RSV). You hereby authorize RSV to charge the credit card on file for the amount owed pursuant to this Risk of Loss Section 4.

RSV Not Responsible. You acknowledge and agree that RSV shall not be not responsible for any loss or damage of any kind whatsoever, caused by the negligence of RSV or its agent or representatives, or otherwise, resulting from any delay, detention, late delivery, non-delivery, defect, malfunction, or deficiency in the rental equipment.

Damage Insurance. RSV will, with optional extra charge/fee, provide damage insurance to protect against accidental damage to the instrument. RSV will absorb the cost of repairs to the instrument only. In the event an instrument is damaged beyond repair, additional costs may be incurred. Damage Insurance does not cover repair or replacement of the following: bow, strings, case, and other accessories included.

Adjustment/Maintenance. RSV will, at no extra charge/fee, adjust the Instrument from time to time upon Your request to maintain the playability of the Instrument. Repairs are not included, and the cost and scope of such repairs will be quoted as needed.

Return/Recovery of Equipment. At the end of the rental period, You agree to return the Instrument cleaned and free of any instruction decks, stickers, etc., in satisfactory condition, ordinary wear and tear excepted, to RSV’s place of business at the address listed on the Contract, at Your sole cost, risk and expense. If You fail, for any reason, to return the Instrument at the end of the rental period, You agree to cooperate fully with RSV and its agents or representatives in their efforts to regain possession of the Instrument. If You fail to timely return the Instrument and RSV is required to use its efforts to regain possession, all rental fees credited towards the purchase of the Instrument shall be forfeited. In the event the Instrument is not returned within thirty (30) days of the end of the rental period, You agree to immediately pay the full list price plus sales tax (less any applicable rental payments previously made) and You hereby authorize RSV to charge the credit card on file for the amount owed pursuant to this Section 7.

Reimbursement of RSV’s Cost. In addition to the obligations contained in Section 7, if You breach this Contract in any way, You agree to pay all reasonable costs and expenses of RSV incurred in regaining possession of the Instrument, the value of the Instrument, or any other sums due owner under this Contract, including, but not limited to, attorney’s fees and court cost, if any.

Late Payments/Late Fees. If You are more than fifteen (15) days late in paying any sums due under this Contract or in returning the Instrument, You authorize RSV, without notice to You, to charge the credit card on file for the unpaid Monthly Payments, plus a late fee of 20% of the unpaid Monthly Payments until the account is current. Additionally if the Monthly Payment is two (2) or more months past due and You have not responded to phone and mail communication from RSV, all earned equity is forfeited and You acknowledge that RSV will have legal right to conclude You intend to retain the Instrument without the intention of paying for it; and as a result RSV shall have the right to report the theft of the Instrument to the local police department.

Bankruptcy. You agree to return the Instrument to RSV prior to Your making any bankruptcy declaration and failure to do so will be an admission of intent of theft of the Instrument reportable to the local police department.

Credit Check. You consent to a credit check via Equifax to determine financial qualifications for this Contract and the financial obligations it creates.

Termination of Agreement. This Contract may be terminated by You or RSV at any time, provided You have paid all Monthly Payments in full and the Instrument is returned in satisfactory condition.

Purchase of Instrument. All paid Monthly Payments may be credited to the purchase of the Instrument listed in this contract.

Entire Agreement. This Rental Agreement constitutes the entire agreement between You and RSV and shall not be amended, altered, or changed except by written agreement signed by the parties hereto. You hereby represent and warrant that You are of legal age, have received the listed Instrument, have received a copy of this Contract, and have read and do fully understand all of the terms of this Contract.